APD Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 30.06.2026	Q1 '26 31.03.2026	Q4 '25 31.12.2025
Market & Enterprise Value
Market Cap	62.63B EUR	65.29B EUR	64.69B EUR	55B EUR
Enterprise Value	81.98B EUR	82.46B EUR	82.09B EUR	72.11B EUR
Valuation Multiples
Trailing P/E	--	--	30.7x	39.37x
Forward P/E	19.48x	--	--	--
Price to Sales	4.97x	5.18x	5.19x	5.92x
Price to Book	4.51x	4.7x	4.13x	3.57x
EV/Revenue	6.51x	6.54x	6.59x	7.76x
EV/EBITDA	17.62x	15.25x	15.38x	17.89x
Price to FCF (P/FCF)	--	--	--	--
EV/FCF	--	--	--	--
FCF Yield	-2.39%	-0.46%	-1.93%	-2.27%